HIGHCOM LIMITED — Capital/Financing Update 2009

Apr 27, 2009

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Release to the Australian Securities Exchange

2009 Revenues & New Orders

Canberra, Tuesday 28[th ] April 2009.

1) Full Year 2009 Prospects

Further to XTEK’s Half Year Report to 31 December 2008; XTEK Limited (ASX: XTE) reports that sales and orders in hand as at today and for delivery in the year ending 30 June 2009 total $13.4M. XTEK expects full year 2009 revenue to be between $13M and $14M depending on the actual timing of shipments towards the end of the Fiscal Year.

At this level of revenue XTEK expects to report a positive profit result in comparison to the 2008 Agency loss of $1.8M and statutory loss of $4.6M.

2) New Orders

It is the Company’s practice to announce signed orders in excess of $1.0M.

XTEK announces an order has been received and signed for two ROV’s (Remotely Operated Vehicles) totalling $1.5M with a further ROV ($0.6M) to be added to the order in the near future. This order is not included in the forecast revenue under Point 1 above, as commissioning and delivery is dependant on the yet to be confirmed lead time to import the equipment.

3) New Agencies

XTEK is pleased to announce the signing of a new agency agreement to be the exclusive distributor of EncryptaKey solutions in Australia.

EncryptaKey is an innovator and a leader in privacy protection and information security technologies. Its patent-pending solution is the first to focus on the end-user as the foundation for secure business and consumer information exchange to create a seamless and secure environment in which to conduct digital transactions, surf the web, conduct business and communicate securely. Further information on this exciting technology can be found at www.encryptakey.com.

4) Cash on Hand

Cash on hand at 31 March 2009 was $1.05M in comparison to the position at 31 December 2008 of $1.0M and at 30 June 2008 of $0.72M. There is minimal debt. Closing cash on hand at 30 June 2009 is also forecast to exceed $1.0M.

Head Office 25 Yallourn Street (PO Box 333), Fyshwick ACT 2609 Australia Telephone: +61 (0) 2 6280 6321, Facsimile: +61 (0) 2 6280 6518, Website: www.xtek.net

Branch Offices Sydney Office 5/7 Cunningham Street, Moorebank NSW 1875 Tel: +61 (0) 2 9821 4296 Fax: +61 (0) 2 9821 3953 Melbourne Office Suite 1401, 1 Queens Road Melbourne VIC 3004 Tel: +61 (0) 3 9863 7170 Fax: +61 (0) 3 9863 7165 Adelaide Office Unit 6, 183 Philip Highway, Elizabeth SA 5112 Tel: +61 (0) 8 8482 9990 Fax: +61 (0) 8 8252 1155

5) Net Tangible Assets

Net tangible assets per security at 31 December 2008 were 3 cents.

6) Unbooked Tax Loss Benefits

At 30 June 2008 XTEK has $4.9M in deferred differences and potential tax losses not recognised. This asset represents 6 cents per share.

XTEK Ltd is the leading company in the Australian Homeland Security Market. XTEK’s knowledge and expertise is focused on the delivery of leading solutions for defence forces, state and federal law enforcement agencies, corrections and customs services, and government clients. For more information visit the XTEK web site at www.xtek.net

For further information please contact:

Mr. David Jarvis Mr. Lawrence Gardiner Chief Executive Officer Company Secretary XTEK Limited XTEK Limited David.Jarvis@xtek.net Laurie@xtek.net (02) 62806321 (02) 62806321

Signed for and on behalf of XTEK Limited:

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Lawrence A Gardiner Company Secretary 28[th] April 2009

Head Office

25 Yallourn Street (PO Box 333), Fyshwick ACT 2609 Australia Telephone: +61 (0) 2 6280 6321, Facsimile: +61 (0) 2 6280 6518, Website: www.xtek.net

Branch Offices Sydney Office 5/7 Cunningham Street, Moorebank NSW 1875 Tel: +61 (0) 2 9821 4296 Fax: +61 (0) 2 9821 3953 Melbourne Office Suite 1401, 1 Queens Road Melbourne VIC 3004 Tel: +61 (0) 3 9863 7170 Fax: +61 (0) 3 9863 7165 Adelaide Office Unit 6, 183 Philip Highway, Elizabeth SA 5112 Tel: +61 (0) 8 8482 9990 Fax: +61 (0) 8 8252 1155

Tel: +61 (0) 2 9821 4296 Fax: +61 (0) 2 9821 3953 Tel: +61 (0) 8 8482 9990 Fax: +61 (0) 8 8252 1155